Commercial

  • June 05, 2024

    Sterling Org Raises $600M For Retail RE Investments

    Sterling Organization, a private-equity real estate investment firm, closed its Sterling Value Add Partners IV LP fund after it surpassed its $500 million goal and obtained more than $600 million worth of capital commitments, according to a Wednesday announcement.

  • June 05, 2024

    Fire Co. Shuts Down Insurer's $3.7M Subrogation Bid

    A hotel's insurer cannot seek reimbursement from a fire protection company for its roughly $3.7 million coverage payment following a pipe rupture in the hotel's fire sprinkler system, an Ohio federal court ruled, finding the hotel and fire protection company waived their respective insurers' subrogation rights. 

  • June 05, 2024

    Disney To Spend $8B In Fla. After Deal With Oversight Board

    As part of a settlement to end a state lawsuit, members of a local oversight district picked by Gov. Ron DeSantis advanced a development agreement on Wednesday permitting a major new theme park at Disney World as the entertainment giant plans $8 billion in spending over the next decade in Florida.

  • June 05, 2024

    1st Circ. May Undo Tribal Casino Bribery Convictions

    First Circuit judges hinted Wednesday that jurisdictional flaws and other issues could reverse the bribery convictions of an architect and tribal chairman in connection with a proposed $1 billion casino in southeastern Massachusetts.

  • June 05, 2024

    $1.5B Funding Surge Highlights EPA's Brownfields Evolution

    Building on what's already a much-touted bipartisan success story, the EPA has ironed out many of the wrinkles in its brownfields program and is now equipped with a surge of funding. In the first of a four-part series, Law360 Real Estate Authority analyzes the trends and outlooks from the agency's brownfield grant data.

  • June 04, 2024

    S. Korea Claims Victory In Chinese Investor's $1.47B Dispute

    South Korea's Ministry of Justice has announced that an international tribunal threw out all claims asserted by a Chinese real estate investor in a treaty case over a South Korean bank's forced sale of his shares in a local real estate company he founded.

  • June 04, 2024

    LA Landfill Owner Faces Suits Over Foul Fumes, Runoff

    Some 800 people near a waste dump in Los Angeles County sued its operator for damages, alleging the company is liable for a smoldering underground fire at the site — the county's second-largest landfill — that has spewed toxic gas into the air for the last year, as well as geyser-like eruptions of polluted water from the ground.

  • June 04, 2024

    6th Circ. Says 1,000-Yard Gun Range Not Constitutional Right

    A split Sixth Circuit panel said a Michigan town had the authority to ban long-distance gun ranges despite the Second Amendment's protections, ruling it was "difficult to imagine" that training to shoot from 1,000 yards away was needed to defend oneself.

  • June 04, 2024

    Data Center Firm Nets $1.3B In Financing For Development

    STACK Infrastructure has secured $1.3 billion in fundraising for data center projects in the U.S., Europe and the Asia-Pacific region, the company announced Tuesday.

  • June 04, 2024

    SEC Shutters Salt Lake City Office, Shifts Cases To Denver

    The U.S. Securities and Exchange Commission said on Tuesday that it will close its Salt Lake City office for budgetary and organizational purposes, saying that the caseload of the office, which among other things handled the troubled Debt Box case, will now be handled by staff in Denver.

  • June 04, 2024

    Real Estate Lawyers On The Move

    Nossaman, Miles & Stockbridge and Holman Fenwick Willan are among the firms that have made recent real estate or construction hires.

  • June 04, 2024

    Troutman Real Estate Ace Rejoins Morris Manning In Atlanta

    Morris Manning & Martin LLP announced Tuesday that an attorney who left the firm as an associate for Troutman Pepper Hamilton Sanders LLP a little over a year ago has rejoined the firm in Atlanta as a partner in its real estate practice.

  • June 04, 2024

    V&E Advises $700M Offer To Take Whitestone REIT Private

    MCB Real Estate, guided by Vinson & Elkins LLP, approached Whitestone REIT with an offer to buy the real estate investment trust and take it private in a $700 million deal, less than a day after the shopping center operator announced changes to its board in the wake of a proxy fight.

  • June 04, 2024

    11th Circ. Affirms Nix Of IRS Easement Disclosure Guidance

    The Eleventh Circuit affirmed Tuesday that an Internal Revenue Service notice imposing reporting requirements on potentially abusive conservation easements was invalid because the agency failed to solicit the public feedback required by administrative law.

  • June 04, 2024

    Colo. Orders Disclosure Of Info On Local Property Tax Levies

    Local jurisdictions in Colorado will be required to provide certain information about their property tax levies under legislation signed into law by Democratic Gov. Jared Polis.

  • June 03, 2024

    SF Office Market Standout Notches New Leases

    Even as San Francisco's office market remains in a four-year downturn, the city's 140 New Montgomery Street tower has kept signing tenants seeking prime space, with three newcomers taking a combined 55,913 square feet, CBRE and building owner Pembroke announced Monday.

  • June 03, 2024

    Some Racketeering Claims In $92M Award Suit Can Proceed

    A Monaco bank and a Luxembourg lawyer and trust administrator must face racketeering claims accusing them of helping to hide the fortune of a Russian businessman who's on the hook for a $92 million arbitral award, a California federal judge ruled on Friday.

  • June 03, 2024

    Treasury Aims To Salvage Corp. Transparency Act At 11th Circ.

    The Corporate Transparency Act is a valid exercise of congressional authority to curb money laundering under the commerce clause and the necessary and proper clause in the Constitution, the U.S. Treasury Department told the Eleventh Circuit on Monday in a bid to restore the law's reporting requirements.

  • June 03, 2024

    Judge Says It's Time For DIP Deal For Steward Healthcare

    A Texas bankruptcy judge on Monday gave Steward Health Care permission to offer a commitment fee to induce a lender to provide it with the financing to see the hospital chain through its Chapter 11 case, while saying the company needs that final commitment soon.

  • June 03, 2024

    REIT To Replace Trustees Targeted In Proxy Contest

    Shopping center operator Whitestone REIT plans to replace two board members following an activist shareholder's unsuccessful attempt to oust the pair in a recent proxy contest, the real estate investment trust said Monday.

  • June 03, 2024

    Herrick Feinstein Guides Hotel From Lease Suit To $177M Sale

    What began as a simple commercial lease action tied to a swanky hotel in New York City morphed into a complex adversary proceeding, which a Herrick Feinstein LLP team recently brought to a close, paving the way for the property's $177 million sale to EOS Hospitality.

  • June 03, 2024

    RI Panel OKs Providence Unrestricted Property Tax Rates

    Rhode Island would allow the city of Providence to adopt a classification system that allows for unrestricted tax rates for the city's property classes under a bill moved to the Senate floor for consideration.

  • June 03, 2024

    NYC Real Estate Week In Review

    Dylan Chan Law Firm and Kevin Kerveng Tung were among the law firms that guided the largest New York City real estate deals that hit public records last week, a period that saw six transactions above the $15 million mark become public.

  • June 03, 2024

    Quarles & Brady Adds Real Estate Atty In Naples, Fla.

    Quarles & Brady said it has added a senior counsel in its real estate practice group to its Naples office from Kilinski Van Wyk.

  • June 03, 2024

    Real Estate Co., Nationwide Settle CFO Theft Dispute

    A New York federal judge agreed to dismiss a coverage dispute between a property management company and Nationwide Mutual Insurance Co. over nearly $1 million that the company's former chief financial officer was accused of stealing, following the parties' notice that they reached an agreement.

Expert Analysis

  • Serving As A Sheriff's Deputy Made Me A Better Lawyer

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    Skills developed during my work as a reserve deputy — where there was a need to always be prepared, decisive and articulate — transferred to my practice as an intellectual property litigator, and my experience taught me that clients often appreciate and relate to the desire to participate in extracurricular activities, says Michael Friedland at Friedland Cianfrani.

  • Payment Provision Lessons From NJ Construction Ruling

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    A New Jersey appellate court's decision in Bil-Jim v. Wyncrest, holding that an American Institute of Architects contract was not an installment contract, highlights both the complexities of statute of limitations calculations and the significant consequences that can arise from minor differences in contract language, say Mitchell Taraschi and Zac Brower at Connell Foley.

  • Spray Painting Makes Me A Better Lawyer

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    My experiences as an abstract spray paint artist have made me a better litigator, demonstrating — in more ways than one — how fluidity and flexibility are necessary parts of a successful legal practice, says Erick Sandlin at Bracewell.

  • A Legal Playbook For Stadium Construction Agreements

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    As a new wave of construction in the professional sports arena space gets underway, owners must carefully consider the unique considerations and risks associated with these large-scale projects and draft agreements accordingly, say attorneys at Akerman.

  • Document Retention Best Practices To Lower Litigation Risks

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    As new technologies emerge and terabytes of data can be within the purview of a single discovery request, businesses small and large should take four document management steps to effectively minimize risks of litigation and discovery sanctions long before litigation ensues, says Kimbrilee Weber at Norris McLaughlin.

  • Riding My Peloton Bike Makes Me A Better Lawyer

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    Using the Peloton platform for cycling, running, rowing and more taught me that fostering a mind-body connection will not only benefit you physically and emotionally, but also inspire stamina, focus, discipline and empathy in your legal career, says Christopher Ward at Polsinelli.

  • The Challenges SEC's Climate Disclosure Rule May Face

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    Attorneys at Debevoise examine potential legal challenges to the U.S. Securities and Exchange Commission's new climate-related disclosure rule — against which nine suits have already been filed — including arguments under the Administrative Procedure Act, the major questions doctrine, the First Amendment and the nondelegation doctrine.

  • Spartan Arbitration Tactics Against Well-Funded Opponents

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    Like the ancient Spartans who held off a numerically superior Persian army at the Battle of Thermopylae, trial attorneys and clients faced with arbitration against an opponent with a bigger war chest can take a strategic approach to create a pass to victory, say Kostas Katsiris and Benjamin Argyle at Venable.

  • How FinCEN Proposal Expands RE Transaction Obligations

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    Against a regulatory backdrop foreshadowing anti-money laundering efforts in the real estate sector, the Financial Crimes Enforcement Network's proposed rule significantly expands reporting requirements for certain nonfinanced residential real estate transfers and necessitates careful review, say attorneys at Fried Frank.

  • Unpacking FinCEN's Proposed Real Estate Transaction Rule

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    Phil Jelsma and Ulrick Matsunaga at Crosbie Gliner take a close look at the Financial Crimes Enforcement Network's recently proposed rulemaking — which mandates new disclosures for professionals involved in all-cash real estate deals — and discuss best next steps for the broad range of businesses that could be affected.

  • New FinCEN Guide Provides Useful BOI Context For Banks

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    Financial institutions should review a new Financial Crimes Enforcement Network compliance guide for helpful details about how the agency's beneficial ownership information database should be used, though questions remain about the access rule and whether it will truly streamline bank borrowers' Corporate Transparency Act due diligence, says George Singer at Holland & Hart.

  • DC's Housing Tax Break Proposal: What's In It, What's Missing

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    Proposed Washington, D.C., rules implementing the Housing in Downtown Tax Abatement program — for commercial property owners who convert properties into residential housing — thoroughly explain the process for submitting an application, but do not provide sufficient detail regarding the actual dollar value of the abatements, says Daniel Miktus at Akerman.

  • Contract Disputes Recap: The Terms Matter

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    Stephanie Magnell and Zachary Jacobson at Seyfarth examine recent decisions from the U.S. Civilian Board of Contract Appeals, the Armed Services Board of Contract Appeals and the U.S. Court of Federal Claims, which offer reminders about the importance of including contract terms to address the unexpected circumstances that may interfere with performance.